City and Business news: Apple, Co Yo, Eco Atlantic

Shares in technology giant Apple have rocketed nearly 800 per cent thanks to its iconic iPhone, which celebrates its 10th anniversary tomorrow.

PUBLISHED: 00:01, Sat, Jan 7, 2017
| UPDATED: 09:20, Sun, Jan 8, 2017

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Steve Jobs unveiling the iPhone 10 years ago

Apple’s founder Steve Jobs described the iPhone as a “revolutionary and magical” product when he unveiled it at the MacWorld conference on January 9, 2007, and it has gone on to transform the firm’s fortunes.

Since the launch of the iPhone, Apple’s share price has shot up from just $13.22 (£10.74) per share to $117.91, giving it a market capitalisation of $631.9billion and the title of world’s largest company.

The iPhone is responsible for the majority of the firm’s revenues, helping it to break the world quarterly profit record in Q1, 2014, before bettering it in Q3, 2015.